Abig trend in recent years in high jewellery has been consolidation, as conglomerates have bought up independent brands.
Pomellato, the Milanese jeweller behind the cult Nudo and M’ama non M’ama stacking rings, was bought last April by Kering, the French luxury goods group behind Italian brands Gucci and Bottega Veneta, after Kering fought off competition from Prada, the Italian fashion house, and the Italian state investment fund.
Such deals are good for conglomerates looking to bolster their high luxury offerings, but what is in them for the independents? Andrea Morante, Pomellato’s chief executive, says the answer is simple.
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